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Search Results 0 to 35 of about 36 (some duplicates have been removed)
May 10, 2012 9:00pm PDT
we're going to change when i'm president of the united states of america. >> obama very early realized that things were only going to get worse. and so, obama made this decision: "the thing i'm going to run on is that there is a problem in our economy, my opponent doesn't see it, and i can fix it." >> narrator: and early in the campaign, he had traveled to new york to push for wall street to change its ways. >> i actually went down to the cooper union speech with him in his car. >> senator barack obama... (applause) >> he was talking about the idea of making sure that the ethics of wall street was pure and that we were doing the business that we should be doing. >> thank you very much. thank you. we let the special interests put their thumbs on the economic scales. we've excused and even embraced an ethic of greed. >> the cooper union speech was essentially obama's effort to say to the democratic party and to the country that he believed that we had to rein in wall street, we had to resume more aggressive regulation of wall street. >> instead of establishing a 21st century reg
May 17, 2012 2:30am EDT
controls. >> the cold medicine industry in the united states is estimated to be about a $3 billion money maker for the drug companies. and to say that you're going to make it more difficult for companies to sell this product really is not a very popular idea. >> tonight, frontline, in association with the "oregonian," looks again at the meth epidemic to investigate a potential new cure and the battle raging over it. >> the truth is that the oregon solution works. and for states that are struggling with that issue, the stakes couldn't be higher. >> frontline is made possible by contributions to your pbs station from viewers like you. thank you. and by the corporation for public broadcasting. major funding is provided by the john d. and catherine t. macarthur foundation, committed to building a more just, verdant, and peaceful world. and by reva and david logan, committed to investigative journalism as the guardian of the public interest. additional funding is provided by the park foundation, dedicated to heightening public awareness of critical issues. by tfrontline journalism fund,
May 22, 2012 10:00pm EDT
president of the united states." >> narrator: corzine would aggressively embrace politics. in 2000, he spent a record $62 million of his own money to become a senator from new jersey. in 2006, he spent another $43 million to become governor. >> gracious god, we ask your blessing upon jon, that you would fill him with positive vision, that he might inspire others. >> the reason why we called jon is because we knew he knew about the economy. >> narrator: by 2008, corzine had become a trusted advisor to barack obama. it was once rumored that he might even replace tim geithner as treasury secretary. >> here we go, folks. >> narrator: but then in 2010, new jersey voters ended his political career and returned him to wall street. >> former new jersey governor jon corzine is returning to the private sector. he has taken the helm of mf global. >> narrator: but corzine's choice of mf global was puzzling. >> i think it was a little surprising that he went to such a small firm. you know, if you think about it, goldman partner, goldman ceo, confidante of the president of the united states, former
May 30, 2012 12:00am EDT
resistance from the yemeni army, which receives arms, training, and intelligence from the united states. on the edge of jaar, the first glimpse of the flag of al qaeda. >> it's a very sinister thing. it's a black flag inscribed with the words, "no god but one god," and then the seal of the prophet. it has an impact on you. it's very scary. >> narrator: ghaith's contact was a fighter and political officer who called himself fouad. he was a member of ansar al sharia, the local franchise of al qaeda. ansar al sharia was started last year to provide al qaeda in the arabian peninsula with foot soldiers and a new image. some experts question the exact relationship between the two groups, but ghaith found that they operated as one and the same. how clearly they referred to themselves as al qaeda in the arabian peninsula. and for fouad to talk to us, he would have to have permission from the highest authority. >> narrator: fouad said that us drones and the yemeni air force often attacked. >> (translated): they bomb people's homes to prove to washington they are truly fighting terrorism. but they ha
May 3, 2012 9:00pm PDT
united states and throughout the world. >> we're only sitting on a couple of mill... >> narrator: the banks had won the day. credit default swaps would now be introduced to new markets. >> the next application of this same technology was to portfolios of consumer credit risk, and in particular mortgage-related credit risk. >> narrator: and the higher the risk, the better. >> what everyone is trying to create is something that has a high rating, and a high yield. that's the holy grail. that's the goal, is to mix together assets in some way so that you come out with a triple a, and a big return. >> narrator: and so ll street discovered the rewards of funding the american dream. just as they had bundled corporate loans, bankers now bundled mortgages. >> you would buy these big pools of mortgages, and these credit default swaps enabled you to bundle all this stuff together, bring it in house, in order to get it ready to put through the sausage-making machine and create these securities. >> narrator: bankers spread their investing dollars across the country, but especially in states seeing
May 3, 2012 10:00pm PDT
we're going to change when i'm president of the united states of america. >> obama very early realized that things were only going to get worse. and so obama made this decision, "the thing i'm going to run on is that there is a problem in our economy, my opponent doesn't see it, and i can fix it." >> narrator: and right after the bear stearns crisis, he turned his attention to wall street. he had an inside source-- the man in the pink striped tie. >> we met for a little dinner, just him and i. and, you know, i was hook, line and sinker. i felt like here was a guy that could really bring this country together. >> narrator: robert wolf was a wall street power broker-- the chairman of ubs americas, part of the giant swiss bank. >> from that day on we started talking very, very often. i don't know if it was once a week, three times a week, five times a week, emailing back and forth, but from that time on we started talking about the markets and the economy nonstop. >> narrator: and with wolf's support, obama decided to confront the bankers on their own turf. >> i actually went dow
May 10, 2012 10:00pm PDT
of the united states, william jefferson clinton. (applause) >> narrator: the changes were formalized in the late '90s, as the last of the depression-era reforms were lifted. >> the glass-steagall law is no longer appropriate.. >> narrator: and traditional commercial banks could merge with trading-oriented investment banks. trading activity and bank profits rose quickly. >> the trading side became overwhelming-- three, four, five times bigger than the banking side. but the banking side grew as well, but not as much as the trading side. >> this is very much the beginning of the brain drain, when wall street looked at people who had technical, scientific training, and it said, "we'll pay you double, triple, five times what you could make in any other field." and if you're looking at those kinds of incentives, you're trained as an engineer, why wouldn't you want to make three times more money? >> two and a quarter points at five million. >> narrator: so they came. and many ended up doing what is called proprietary trading-- trading for the bank's own account. some bankers were
May 8, 2012 10:00pm EDT
the independent big city stations in the united states which then turned into the fox network. he's had to close it down. not change it, not sell it-- close it. >> bergman: hundreds of jobs would be sacrificed, but there was hope that the sky deal could still be secured. rupert murdoch flew in and was widely denounced when he said his priority was protecting his chief executive, rebekah brooks. within days she would resign, and within a week she would be arrested and questioned about phone hacking and police bribery. murdoch was rapidly losing >> and suddenly, we hit the tipping point. and politicians said, "enough. we're changing sides." >> bergman: david cameron, who pursued murdoch's support before the election, now distanced himself. without the political capital, murdoch withdrew his bid for bskyb. the past had caught up with him. >> mr. murdoch, did you read our last report into the matter, where we referred to the collective amnesia of your executives who gave evidence to our committee? >> i haven't heard that. >> parliamentary inquiry found your senior executives in the uk g
Search Results 0 to 35 of about 36 (some duplicates have been removed)